The price of a shiny white console has fallen in the old country. Europe got word today that Microsoft has slashed the price of their next generation console, in what seems like an effort to further squeeze out Sony.

Microsoft said on Monday it is cutting the price of its Xbox 360 consoles in Europe as the software giant battles with Sony and Nintendo for devotees in the multi-billion-dollar video game market.

Microsoft, which trimmed 50 dollars from the price of Xbox 360 models in the United States on August 7, said the video game console will cost 279.99 euros (377 dollars) or 349.99 euros, in Europe from Friday, a reduction of 20 or 50 euros, according to the version.

Microsoft's new-generation video game console had the advantage of being released a year before Sony's PlayStation 3, and Nintendo's Wii debuted in November last year.

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